(1)I think this article is rubbish and (2) I am not qualified for much more than an uneducated opinion. That said: There might need to be some new categories i

(1)I think this article is rubbish and (2) I am not qualified for much more than an uneducated opinion. That said: There might need to be some new categories invented for the purpose of determining appropriate multiples. Technology and software in particular does really have the potential for very high margins and growth that do (often) justify higher valuations than retail/consulting/whatever. But the companies we're talking about are not really comparable to MSFT or Adobe from a valuation perspective. The fact that writing software is central to all these businesses doesn't mean they are in the same business. These are real businesses making real money. I just don't think they have the same stability.